In the western portion of Bangalore in Karnataka, a popular residential area named Basaveshwaranagar has been situated. During the 1970s and 80s, this locality developed as a huge residential colony for leading companies like BEML, Kirloskar Group, SBI, and LIC. The area attained huge attraction and growth as a prime residential zone in Bangalore because of the presence of Kempegowda Bus Station, Bengaluru Pete, and Bangalore City Railway Station in its proximity. Pharmaceuticals, retail, banking, jewellery, transport, and IT are the major industries other than real estate that are thriving in this region. In order to establish businesses or purchase residential properties, people often take up a gold loan in Basaveshwaranagar. Unani Medical College and Hospital, Homeopathic Medical College, VVS. First Grade College, S. Cadambi Independent Pre-University College, VLS International School, National Academy For Learning, and Carmel High School are some of the prime educational institutions in this region.
A gold loan is the perfect solution when a borrower is looking for urgent loans or emergency funds. With the help of an instant gold loan online, the borrower can receive the required funds in less than an hour. The borrower is eligible to get up to 75% of the market value of the pledged gold as the loan amount. Unlike many other sources of funds, an online gold loan requires minimum paperwork before giving the loan approval. The required documents are:
Some lenders also approve the loan against just the Aadhaar Card of the borrower. The Aadhaar card is the most important document for an Indian, which has all the details regarding name, father’s and mother’s name, address, biometric information, iris scan, etc. Therefore, it can function as the identity proof as well as the address proof.
An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail the loan right from the comforts of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!
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